Whether it's pig-butchering, where scammers build trust before luring victims into fake investments, or schemes where criminals pose as anti-fraud specialists to access sensitive information, scams targeting customers can leave community banks feeling helpless because they aren't aware of them until it's too late.
However, some institutions are taking steps to prevent such attacks. Texas-based First Financial sends employees to speak at churches, civic organizations, and retirement centers to educate customers about common scams. Similarly, Synovus Financial in Georgia, launched a "stop, drop, and call" campaign to protect customers when asked for personal information over the phone.
Be sure to check out these resources from Abrigo on educating customers about scams and fraud and these resources from the FDIC's Office of Inspector General on pig butchering.
Any other tips or suggestions for helping customers recognize and prevent fraud? What has worked at your institution, and what hasn't?
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Rob Blackwell
Chief Content Officer and Head of External Affairs
IntraFi
Arlington, VA
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